Marks & Spencer Slides 7.8%
As Green Abandons Takeover

LONDON -- Retail entrepreneur Philip Green backed away from making a bid for Marks & Spencer PLC, but the ailing British retailer is still vulnerable to other predators, analysts said.

Mr. Green said in December he was considering a bid to acquire Marks & Spencer, as the retailer's share price sank to a low, but on Thursday he said he would abandon the effort to avoid a damaging takeover fight.